How to Save Money on Business Insurance
Julieakin • August 21, 2012
Here are Five Ways to Save Money on Business Insurance:
- Shop around.
Prices vary from company to company, so it pays to shop around. Let Budget Insurance do the shopping for you! We represent a multitude of companies who specialize in your type of Tucson business. Our insurance professionals can compare prices and recommend the proper coverage for your insurance needs. Contact a local agent or visit one of our convenient 4 Tucson locations or request a quote today!
Budget Insurance only represents companies that are financially stable. Check the financial health of insurers with rating companies such as A.M. Best and Standard & Poor’s and consult consumer magazines for more information. - Choose a higher deductible.
Deductibles represent the amount of money you pay before your insurance policy kicks in. The higher the deductible, the less you will pay for the policy. - Buy a package policy.
It can sometimes be cheaper to purchase a package policy, such as a Businessowners Policy (BOP), rather than individual coverages. A package policy provides standard coverages and limits of liability that are appropriate for typical small-to-medium-sized businesses. - Work closely with your agent or broker.
Your insurance professional can provide invaluable advice to help protect your business from unexpected disasters. But you need to keep him or her informed about any major changes in your business. This includes major purchases, expansions or changes in hiring or the nature of your operation. Also, get your agent’s advice in terms of disaster planning. Ask what you can do to both reduce risks like fire or work-related accidents, as well as the procedures that should be in place in case your business does suffer a major catastrophe.Having the right coverage and a well thought out disaster plan can save you money in the long run. It may even save your business from going under. - Ask about ways to prevent losses.
You may be able to reduce your premium for certain coverages by following your insurer’s recommendations. These can include workplace safety, disaster preparation, and human resource intervention.
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To update you on what is happening at the Lukeville/Sonoyta border crossing for our insureds traveling to Rocky Point: Depending on the officer, Mexican authorities (Guardia Nacional) are enforcing the FMM and passport requirements, but not consistently. Some travelers have reported crossing as usual without passports, and officers simply waived them through. Others have reported obtaining FMMs at the border, with all travelers carrying passports. If travelers are transparent and declare any alcohol they’re bringing into Mexico, they are being charged a 114% tax. However, some people reported having alcohol but were waived through by officers and did not pay the tax. It appears enforcement depends on the officer, and tourists are currently taking their chances. It comes down to each traveler’s level of confidence and risk tolerance, as enforcement is not yet consistent. Our company’s recommendation is to follow the law: Process the FMM online Print the form Stop at the INM (Immigration) office at the border to get it stamped Reminder: The FMM tourist permit is only for foreign citizens, not for individuals with dual citizenship. Here is the link to obtain the FMM online (in case travelers ask where to process it before crossing the border): https://www.inm.gob.mx/fmme/publico/en/solicitud.html The INM Immigration Office is located in the Aduana building. For your reference, the Gastrak/Sanborn’s location in Lukeville and the Aduana building (just to the left after crossing the border) are highlighted. Additional reminders for this border crossing: All vehicles must have a current, original, valid registration OR the original title/notarized copy. Digital copies or images are not accepted. If the vehicle is not owned by the driver (e.g., a company vehicle, borrowed from family or friends), a notarized letter of permission from the owner is required to take the vehicle into Mexico. Border Hours: U.S. and Mexican authorities have agreed that the Lukeville–Sonoyta border crossing to Rocky Point (Puerto Peñasco) is open daily from 6 a.m. to 8 p.m., with extended hours on Fridays (6 a.m. to 10 p.m.) from March 7 to October 10, 2025.
Do you know how to select the proper liability limits to protect your assets? Most likely, the answer is "No" but we here at Budget Insurance & Tucson Insurance Solutions make it simple and easy to calculate the level of protection that's right for you. All too many times we as consumers get caught up […]
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Safeguarding Your Ride: Exploring Auto Mechanical Breakdown Protection Your car is more than just a means of transportation; it's a reliable companion that takes you on journeys both near and far. However, like all mechanical things, vehicles are prone to wear and tear, and the possibility of breakdowns is ever-present. This is where auto mechanical […]
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